David Bonderman, co-founder of TPG, has resigned from the board of portfolio company Uber Technologies, the ride-hailing company, after he made inappropriate comments during an Uber meeting on Tuesday.
Bonderman's controversial comment – that having women on boards leads to “more talking” – was particularly pertinent as it came during a meeting to discuss the culture of Uber, a company that has been plagued by allegations of sexual harassment and discrimination.
“Today at Uber's all-hands meeting, I directed a comment to my colleague and friend Arianna Huffington that was careless, inappropriate, and inexcusable,” Bonderman said in a statement. “The comment came across in a way that was the opposite of what I intended, but I understand the destructive effect it had, and I take full responsibility for that.”
The company was holding a meeting to discuss its culture, when another board member, Huffington, mentioned the fact that one woman on a board often leads to more women joining, according to news reports.
“Actually, what it shows is that it's much more likely to be more talking,” Bonderman responded during the meeting, according to the New York Times .
Bonderman is chairman of TPG, which he founded with Jim Coulter in 1992. With $73 billion in assets under management, TPG, which is headquartered in Fort Worth, Texas, invests in private equity, real estate and private credit.
“I do not want my comments to create distraction as Uber works to build a culture of which we can be proud,” Bonderman said in the statement. “I need to hold myself to the same standards that we're asking Uber to adopt. Therefore, I have decided to resign from Uber's board of directors, effective tomorrow morning.”
It's unclear who will replace Bonderman on the board. TPG wasn't available to comment.
Other boards Bonderman serves on include China International Capital Corporation, Cushman & Wakefield, Ryanair Holdings and the Rock and Roll of Fame Foundation.